ENGLEWOOD, Colo. — Please see below for a statement from the Denver Broncos:

"The Denver Broncos have reached an agreement to purchase a portion of minority owner John Bowlen's share of the team, pending final approval from the NFL that is expected in the next few days.

"This transaction further consolidates Pat Bowlen's majority, controlling ownership interest in the Broncos while keeping 100 percent of the team in the Bowlen family. The acquisition of this share is independent of Mr. Bowlen's succession plan that is being administered by the Pat Bowlen Trust.

"John has been a great partner for many years, and we are very pleased he will remain a minority owner of the Denver Broncos."